Through this application, you are applying as a non-resident of Canada to open a non-registered Investment Account and to purchase Guaranteed Investment Certificates (“GICs”) with Royal Bank of Canada, in order to participate in the Government of Canada’s Student Direct Stream (“SDS”) program.
To submit this application, you’ll need to provide certain information about yourself, and you’ll have to review the “RBC International Student GIC Program Application Package” presented at the end of the application and agree to the terms and Conditions it contains.
Before You Start
To apply for the RBC International Student GIC Program, you must:
Be a student from one of the following countries: India, Antigua & Barbuda, Brazil, Colombia, Costa Rica, Peru, Saint Vincent and the Grenadines, Trinidad & Tobago
Have a valid passport that is not expired (please have your passport ready to complete your application)
Have received a letter of acceptance from a post-secondary designated learning institution in Canada (you’ll need to upload a copy in pdf/jpg/png format)
Be opening a solely-owned RBC Investment Account and RBC International Student GIC in your name and for your use only
Thank you for applying!
Application ID: {ApplicationID}
Here’s what happens next:
Once we approve your application, your Investment Account will be opened within three business days. An RBC advisor will then send you an email (RBC Secure Email will be in the subject line) to confirm account opening and instructions on how to wire the funds for your GIC.
Once we receive your funds, an RBC advisor will send you an email (by RBC Secure Email) confirming the Interest Rate for your GIC, and your GIC will be issued on the same day.
We will send you a confirmation of your investment, which you can use to support your Canadian study permit application through the Government of Canada’s Student Direct Stream program.
If you have any questions, please feel free to contact us at test@test.com.
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Mailing Address
Do not include a PO Box address or General Delivery address.
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Your Passport Details
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Where You’ll Be Studying
Please provide the name of the educational institution you’ll be attending in Canada.
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Please provide your estimated arrival date to Canada.
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Please upload your letter of acceptance from an eligible Canadian educational institution. The maximum file size is 5 MB. Only PDF, JPG/JPEG, PNGs are accepted.
We are unable to process your application because you have indicated that the Investment Account and/or GIC will be used by or on behalf of a third party.
Your Tax Status
We’re required by law to ask you the following tax questions.
RBC Income Builder GIC Rate: 0.25% on a year term*
* This interest rate is subject to change between now and the time your GIC is issued. Your GIC’s interest rate will be disclosed by RBC Secure Webmail prior its issuance, and confirmed again in a document we’ll send to you outlining all your GIC’s important details.
To continue, you must review and agree (as applicable) to the documents contained in the RBC International Student GIC Program Application Package, which consists of the following:
Consent to Receive Electronic Disclosures from Royal Bank of Canada
Your consent to receive your documents and disclosures for these transactions electronically from Royal Bank of Canada
RBC International Student GIC Program Terms & Conditions
The terms and conditions of the RBC International Student GIC Program
The terms and conditions that will apply to your RBC GIC once it’s issued
Consent to Collection and Use of Personal Information
Our Privacy Policy, which outlines how we collect and use your personal information
Canada Deposit Insurance Corporation Abbreviated Brochure: “Protecting your deposits”
Information about deposit insurance protection applicable to your RBC GIC
Please Note: When you click “Agree and Apply” below, you are confirming that you have received, read, understood and agree to the terms and conditions set out in the above documents, and if your application is approved, that you consent to Royal Bank of Canada opening the Investment Account and issuing the GICs for which you are applying. You also agree to the collection, use, and sharing of your personal information as described in the Consent to Collection and Use of Personal Information document. (If you do not agree, you may cancel your application by selecting “Cancel my application” below.)
I hereby represent and warrant that all information I have provided to RBC is true, complete, and accurate, and I consent to all transactions (or future transactions, as applicable) contemplated in this application and in the above documents.
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RBC International Student GIC Program Application Package
We value your privacy. To understand how RBC Royal Bank collects, uses, and shares your personal information, please see the “Consent to Collection and Use of Personal Information” section of this document.
The terms and conditions that will apply to your RBC GIC once it's issued
Consent to Collection and Use of Personal Information
Our Privacy Policy, which outlines how we collect and use your personal
information
Canada Deposit Insurance Corporation Abbreviated Brochure: “Protecting your deposits”
Information about deposit insurance protection applicable to your RBC GIC
Please review each of the documents in this Application Package carefully, as they
contain important information about your
participation in the RBC International Student GIC Program (the “Program”), and/or about the Investment
Account and Guaranteed
Investment Certificates (GICs) you will receive through your participation in the Program.
By clicking “Agree and Apply” in the online RBC International Student GIC Program
Application , you acknowledge that you have
reviewed all the documents in this RBC International Student GIC Program Application Package and agree to be
bound by all terms
and conditions contained in them. If you do not agree, you may cancel your application by selecting “Cancel
my application”.
Consent to Receive Electronic Disclosures from Royal Bank of Canada
You are applying to open an RBC Investment Account and to receive Guaranteed Investment Certificates (“GICs”)
from Royal Bank
of Canada, through the RBC International Student GIC Program, for the purpose of participating in the
Government of Canada's
Student Direct Stream program.
You consent to receive all disclosures and other documentation/materials related to these
transactions
electronically. In particular,
by clicking “Agree and Apply” to submit your online application for the RBC International Student GIC
Program, you request and
consent to us providing you, and we will provide you, with all documentation and regulatory disclosures
related to the opening of
an Investment Account and the issuance of the GICs under this program by email. You designate the email
address you provide
to us in your online application as the Designated Information System to which we will provide all such
documentation and
regulatory disclosures.
This consent applies to the Investment Account you open and to any GIC
you
may obtain by submitting your
application, should your application be approved.
If you wish to retain for future reference any documents or disclosures that we provide to you, you may print
or save them by using
your browser's print/save functionality at the time that they are presented to you online. You may also
print or save copies of them
upon receipt, by email, from us.
Please print/save any documents or disclosures you wish to retain for future reference.
RBC International Student GIC Program Terms and Conditions
Interest rate: disclosed prior to issuance of your GIC based on prevailing rate
Total Investment Amount = The Initial GIC (the Initial GIC should not be less than the minimum amount established by Immigration, Refugees and Citizenship Canada after deducting applicable fees or more than CAD 30,000 including any applicable fees).
You (“you” or the “Applicant”) are applying electronically as a non-resident of Canada, through the RBC
International Student GIC
Program, to open a non-registered Investment Account and to purchase Guaranteed Investment Certificates
(“GICs”) with Royal
Bank of Canada® (“RBC”, “we”, or “us”) as described herein, in order to participate in the Government of
Canada's Student Direct
Stream (“SDS”) program.
In addition to agreeing to the terms and conditions of the relevant documents in this RBC International
Student GIC Program
Application Package,
you will also be required to submit to us, and you agree to submit to us, a clear scan or photograph of
your
letter of acceptance from an eligible Canadian educational institution.
You agree to send RBC a single, one-time international wire transfer to pay the minimum GIC amount established by Immigration, Refugees, and Citizenship Canada, as well as any applicable fees listed below, up to a maximum of CAD 30,000. Your transfer amount will cover (i) the purchase of your initial GIC (the “Initial GIC”) in order to participate in the Student Direct Stream Program, (ii) a one-time handling fee of CAD 200 that RBC charges in relation to this application, and (iii) any third-party fees deducted by other financial institutions involved in processing the international wire transfer transaction (together, the “Aggregate Amount”). Any portion of the Aggregate Amount remaining after the deduction of applicable fees will be invested as the principal of your Initial GIC and reimbursed on the terms described below.
Only one remittance in the Aggregate Amount will be accepted before you arrive in Canada and complete the requisite authentication process at an RBC Royal Bank® branch.
In any of the following circumstances, international wire transfers received by us from you will be returned by return wire transfer to the account from which the funds originated:
if any subsequent or additional remittance or deposit in addition to the initial one-time international wire transfer in the Aggregate Amount is made before you arrive in Canada and complete the abovementioned authentication process;
if the initial one-time international wire transfer received by us is for an amount less than the minimum amount established by Immigration, Refugees and Citizenship Canada plus applicable fees or more than CAD 30,000 including applicable fees; and/or
if you fail to include in the international wire transfer details any of the important information we require you to include (detailed instructions for which will be provided to you following receipt of your completed application materials).
If we return your international wire transfer(s) as described above, and you still wish to complete the application process, you must send a new international wire transfer that conforms to all requirements described herein.
Your Initial GIC will be issued after we receive from you, by international wire transfer, the funds
required for its purchase, as
described above. The interest rate that will apply to your Initial GIC will be the interest rate that we
offer on our one-year, nonredeemable “RBC Income Builder GIC” product on the date that we issue your Initial
GIC, and this rate may differ from the rate in
effect on the date(s) the Program application is completed by you and/or received by us.
We will disclose to you by email prior to
the issuance of your Initial GIC the specific interest rate that will be applicable to your Initial GIC,
and will subsequently issue that
GIC on the same day that we do so. The date we issue your Initial GIC will also be the date on which its
one-year term shall begin.
We will send to you by email an investment confirmation document (the “GIC Contribution Details”), which
will state your Initial GIC's
principal amount, interest rate, issuance date, term, and maturity date, as well as other details applicable
to your Initial GIC.
After you arrive in Canada, you must visit an RBC Royal Bank branch to have your identity verified by
us, activate your GIC
reimbursement payments, and provide us with instructions regarding the personal deposit account (“PDA”)
into which you would
like your funds to be deposited. We will reimburse your Initial GIC (and your Subsequent GIC, as defined
below) according to the
following terms:
During your initial visit to an RBC Royal Bank branch, your Initial GIC shall be redeemed for its full value (i.e., its principal plus accrued interest) and an initial lump sum payment will be paid to your designated PDA (as described below). The remaining balance (i.e., your Initial GIC’s redeemed principal and accrued interest, less the initial lump sum payment) will be invested as principal in a new GIC (the “Subsequent GIC”) in order to meet the requirements of the SDS program.
Upon or following its issuance, we will provide to you a new GIC Contribution Details document applicable to your Subsequent GIC, which will state its principal amount, interest rate, issuance date, term, and maturity date, as well as other details applicable to it.
Your Subsequent GIC's principal will be divided into twelve (12) equal subsequent payments, and each
such payment will be
paid to you each month of your Subsequent GIC's one-year term, along with accrued interest
applicable to each such payment,
until funds are depleted in the twelfth (12th) month.
Interest applicable to your Initial GIC and your Subsequent GIC will be calculated and accrued
daily.
Each of the twelve (12) payments made from your Subsequent GIC will include interest applicable to
the Subsequent GIC's
principal amount from which payment is withdrawn.
To receive the payments described above, you must have a PDA in your name with a Canadian financial
institution.
For your convenience, we suggest you open a PDA with RBC Royal Bank, when you make your mandatory
initial visit to an
RBC Royal Bank branch.
However, you are not required to open a PDA with RBC Royal Bank. If you prefer that the
above-described payments be
deposited to a PDA at a different Canadian financial institution, you must advise us accordingly and
provide us with the
account information and other information of that PDA, including, but not necessarily limited to,
the name of the financial
institution, the banking number, the branch number and address, the account number and name(s) of
the owner(s) of the
account.
The Initial GIC and Subsequent GIC purchased by you under the terms of this application cannot be
redeemed by you prior to
maturity, other than in accordance with the payment terms above or other applicable terms relating to
early redemption as
described herein.
These GICs will be issued under the terms of the Government of Canada's Student Direct Stream
program,
which
require you to have applied to come to Canada as a student.
If at any time after you arrive in Canada, complete the identity verification process, and provide us
with a designated PDA for
payments, but before the maturity date of your Subsequent GIC, you decide not to pursue your studies in
Canada or to withdraw
from them after commencing them,
your Subsequent GIC may not be redeemed prior to its maturity date, and we will continue to
make the remaining payments as provided in the schedule described above.
If you are delayed in your arrival to Canada and fail to notify us accordingly, we will
contact you
after 10 months elapse from
the date we issued your Initial GIC. If we have not received a response from you before its maturity date,
your Initial GIC will be
redeemed at its maturity date, and we will reimburse you its principal and any accumulated interest by wire
transfer of these funds
to the account from which you sent to us the initial wire transfer described above, and your Investment
Account will be closed.
If you notify us that you will not be coming to Canada to pursue your studies following the issuance
of
your Initial GIC,
please
provide us with a reason and evidence thereof (e.g., study permit rejection letter from Immigration,
Refugees, and Citizenship
Canada (“IRCC”), enrollment cancelation letter, etc.). We will reimburse you the principal and any
accumulated interest at your
request, by wire transfer of these funds to the account from which you sent to us the initial wire transfer
described above, and your
Investment Account will be closed.
Please note that in no event will we reimburse the CAD 200 handling fee or any fees charged by other
financial institutions, as these
fees are non-refundable.
In addition, in the event that we must return funds to you by wire transfer for any reason (including,
but not limited to, any of the
circumstances described herein), you will be charged a non-refundable CAD 40 return fee by RBC for this
return wire transfer.
Additional fees may also be charged and deducted by any third party (e.g., an intermediary bank or
financial institution) involved in
the return wire transfer process before your funds are returned to and/or reach you.
In all such cases, you agree that RBC will retain the CAD 200 one-time handling fee, and additionally,
you agree to pay the CAD 40
wire transfer return fee charged by RBC, as well as any and all wire transfer fees (whether charged by
RBC or any third party) that
may apply to the return of the funds to you, even if such fees result in you receiving back a lesser
amount than the amount you
initially wired to us for the GIC purchase transaction.
Please note: The RBC CAD 40 return fee is charged for providing the service of returning your funds by
wire transfer, and is unrelated to
any applicable redemption prior to maturity of your GIC in the applicable circumstances described above
(for which there is no charge by
RBC).
Acknowledgements, Consents, and Agreement
By selecting “Agree and Apply” in the online RBC International Student GIC Program Application, I
acknowledge and agree as
follows:
I am applying to open an RBC non-registered Investment Account and to purchase an RBC Income Builder GIC
(1- year term,
non-redeemable) for the purpose of supporting my application to study in Canada under the Government of
Canada's Student
Direct Stream program, and that any funds held in the Investment Account opened in my name and/or
redeemed from GICs
purchased in my name will be used solely for the purposes of my studying and living in Canada and
related expenses.
Neither my Investment Account, nor my Initial GIC or Subsequent GIC (as described above), will be
used by or on behalf of a
third party.
I understand that a third party is any person or entity other than me, who will benefit from
the
proceeds of these
GICs, gives instructions and/or directs the manner in which the proceeds of these GICs will be used.
I have received and agree to be bound by the terms and conditions set out in each of the following
documents contained in this
“RBC International Student GIC Program Application Package”, which includes the following:
Consent to Receive Electronic Disclosures from Royal Bank of Canada
RBC International Student GIC Program Terms and Conditions
Client Agreement - Guaranteed Investment Certificate (GIC)
I acknowledge that the terms and conditions set out in the “Client Agreement - Guaranteed Investment
Certificate (GIC)”
shall take effect and become binding on me on the dates I place my Initial GIC and Subsequent GIC
deposits, respectively,
with RBC, which dates shall be confirmed in the GIC Contribution Details document applicable to each
of these GICs, to be
provided to me electronically by RBC.
Consent to Collection and Use of Personal Information
I acknowledge receipt of a copy of the document entitled “Protecting your deposits”, which is
included in this RBC International
Student GIC Program Application Package, and provides information pertaining to deposit insurance
coverage by the Canada
Deposit Insurance Corporation.
I authorize RBC to remit copies of my GIC Contribution Details document and/or any other
documentation pertaining to
my Investment Account, GICs, and/or any other account in my name with RBC to the Government of
Canada or any of its
departments or agencies, including, without limitation, Immigration, Refugees, and Citizenship
Canada (“IRCC”), and/or to any
Canadian Embassy or other authority as may be required to process or validate my application to live
and/or study in Canada
and/or to participate in the Government of Canada's Student Direct Stream program.
I also authorize RBC to contact me by mail, email, or telephone with regards to the transaction(s)
requested herein.
I hereby represent and warrant that all information I have provided to RBC is true, complete, and
accurate, and I consent to all
products and transactions (or future products and transactions, as applicable) contemplated herein.
This Client Agreement – Guaranteed Investment
Certificate (the “Agreement”) sets out the terms under
which you can open a GIC account and place a GIC
deposit (“GIC”) with us. It replaces all earlier versions.
When this Agreement refers to “you” and “your”, it
means any person in whose name a GIC is held. If you
hold a GIC with others, “you” and “your” mean each
of you and all of you are individually and together
agreeing to all of the terms of this Agreement.
When this Agreement refers to “we”, “our” and “us”, it
means
Royal Bank of Canada (the “Bank”), Royal Bank Mortgage
Corporation (“RBMC”), Royal Trust Corporation of Canada
(“RTCC”) and, in Quebec, The Royal Trust Company (“RTCo”).
Placing your GIC with us means that you have received,
read and agree to the terms of this Agreement and
any Special Conditions applicable to certain types of
GICs. If you are a business and have entered into the
Bank's Master Client Agreement (MCA) for Business
Clients, this Agreement forms part of the MCA.
Account Ownership and Signing Authority
When you open a GIC account, you tell us the name of the
owner(s). Any GIC placed into that GIC account will be held
in the name of the owner(s) of that account. You also tell
us who has signing authority for the GIC account. If you
hold a GIC account with others, you may tell us that you
want “any of you” to have signing authority on the account.
This means that any one of you can withdraw money from
any GIC in that GIC account, make any changes we permit
you to make to a GIC and the GIC account and give us any
other instructions without telling the others. If you tell us
that “all of you” are to sign on the GIC account, all your
signatures will be required in order to withdraw money or
do anything else with the GICs and the GIC account. The
information about ownership and signing authority is set
out on your GIC account signing authority document.
If you have a personal deposit account with us, you
may also open a GIC account by telephone or in RBC®
Online Banking. The information about ownership and
signing authority that applies to the personal deposit
account you select will also apply to your GIC account.
Confirmation Notice
We will provide you with a confirmation notice once we have
instructions from you to place a GIC in your account. It shows
the details of the GIC, such as its principal amount, its term, the
rate of interest and any instructions on what to do at maturity.
It also shows whether you may cash the GIC before the end
of its term and any penalties that may apply if you do so.
Interest
Interest in a GIC will be calculated counting the first
but not the last day of the term.
Payments and Renewals
You will tell us whether to pay the interest on the GIC to
you periodically or to keep it with the principal. We will
pay you the principal and any interest at the end of the
term, or renew the GIC if you tell us to do so. You may
provide us with instructions on what to do at maturity by
communicating with us. To be effective, we must receive
instructions at least 7 days before a scheduled payment.
Automatic Renewal
If you have instructed us to do so, we will automatically
renew your GIC at the end of its term in accordance with
your instructions. The interest rate on the renewed GIC will
be the same as the interest rate we offer on comparable
deposits at the date of renewal, which may include any
special and/or bonus rate offered at the time of renewal,
if applicable. The other details of the renewed GIC will
be the same as the original GIC. If the GIC is no longer
offered, we will renew it as a one year redeemable GIC.
You have the right to cancel a renewed GIC within 10
business days from the issuance (renewal) date, and
if you do, your principal will be returned, and interest will apply from the issuance to the cancellation date.
Transfer
Some GICs can be transferred to a new owner,
others cannot be. If you ask us, we will tell you
whether your GIC can be transferred and what you
must do to transfer it to someone else. You cannot
give your GIC as security to anyone except us.
Once a GIC has been transferred by you, we will treat the new
owner as if they were you, for all purposes of this Agreement.
Paying off Your Debt
We may apply the funds in a GIC against any amounts
you owe us or any of our affiliated companies, without
notice to you. If there is more than one owner of the
GIC, we may apply the funds against any amounts any
one of you owes without notice to any of you. This right
will survive the death of any one of you and may be
exercised by us against the GIC held by the survivors.
Representation on the Payment of Taxes
You represent to us that, for so long as you have a GIC
with us, you have filed and will continue to file truthfully all
necessary tax returns, forms and disclosures with respect to
all of your transactions and GICs with each taxation authority
having jurisdiction over your tax affairs by reason of your
citizenship, residence or domicile. You acknowledge and
agree that you are responsible for timely paying any taxes
owing to any taxation authority in relation to such GICs.
Foreign Tax Implications
Tax Residency
You acknowledge providing us with your country (or
countries) of tax residency, either at the time of account
opening or within 30 days, with respect to any change
in circumstances regarding your tax residency.
It is your responsibility to determine where you are resident
for tax purposes, and if you are unsure whether or not you
are a resident of Canada for tax purposes and/or a tax
resident of another country or countries, review information
available at the Canada Revenue Agency, U.S. government
websites, the Organisation for Economic Cooperation and
Development (OECD), and/or seek professional tax advice.
The CRA requires financial institutions to obtain from you
a self-certification of tax residency when required. As such,
failure to provide a valid self-certification under the Foreign
Account Tax Compliance Act (“FATCA”) or Common Reporting
Standard (“CRS”) will result in the temporary restraint of your
account until such time as it is provided to us and verified.
Tax Identification Number (TIN)
You acknowledge providing us with your Tax Identification
Number(s) associated with your tax jurisdiction(s).
A TIN is a unique identifying number used for tax purposes.
Where the jurisdiction of tax residence issues a TIN,
we are required to collect and report the TIN. If you are
not eligible or unable to obtain a foreign TIN, you must
provide a reasonable explanation. We may request from
you and collect your TIN through various channels such
as in person, by mail, by email, by phone or online.
Entity Classification
If you are a business that has an entity classification
for the purposes of FATCA and CRS, you and any
Controlling Persons, if applicable, must provide a
self-certification of residency for tax purposes. The
Controlling Person of an entity is defined as the natural
person(s) who exercises control over the account(s).
We may rely on information in our possession
including the Standard Industrial Code (SIC)
to confirm the entity classification.
Additional Information
More information may be found at the following websites:
Information for individuals holding accounts
with Canadian financial institutions:
Royal Bank of Canada and our affiliates, the Royal Trust
Corporation of Canada, The Royal Trust Company and the
Royal Bank Mortgage Corporation, are members of the Canada
Deposit Insurance Corporation (CDlC). A GIC with any of these
institutions is eligible for CDIC deposit insurance coverage
provided it is payable in Canada. For more information,
including conditions of coverage, contact CDIC directly at info@cdic.ca or
1-800-461-2342. Quebec only: If this is a
GIC with Royal Bank Mortgage Corporation or The Royal
Trust Company, it is a deposit within the meaning of the
Deposit Institutions and Deposit Protection Act (Quebec).
Guarantee
The Bank guarantees all GICs placed with RBMC.
Death
Upon death, we will suspend payment of your GIC. We will
wait for further instructions from the estate representatives
or new owner, failing which the funds at maturity will be
dealt with in accordance with the Automatic Renewal
section above. We are entitled to ask for proof of death and
any other documents that we may require in connection
with the transmission of the GIC on death, such as
Letters Probate or other documents issued by a court.
Survivorship
This paragraph does not apply to GICs at a Quebec branch,
regardless of the client's residence. It applies to personal
clients only.
A GIC account with more than one owner will be owned
jointly with right of survivorship, subject to the Paying off
Your Debt section above. The surviving owner(s) will own
all the GIC funds remaining, after any debts have been
paid, subject to any applicable laws about the period of
survivorship. If one of you dies, the surviving owner(s) must
let us know and provide us with acceptable proof of your
death. Then, the surviving owner(s) may either direct us
to remove your name from the GIC and place it into a GIC
account in the surviving owner name(s) or request that
we pay the surviving owner(s) the GIC principal and any
interest. We shall be entitled to follow the direction of any
surviving owner without inquiring whether they have the
beneficial right to the monies and without recognizing any
claims of third parties. Once we have either paid out the
funds or removed the deceased owner's name from the GIC,
we will be fully discharged respecting the deceased owner
and their estate's interest in any GIC. By acting on the right
of survivorship, we will not be liable for any loss or legal
costs incurred in any dispute between the estate of the
deceased owner and the surviving owner(s) or a third party.
Legal Representative
You may appoint one or more Legal Representative to act for you in respect of a GIC. However, please note the following:
we may refuse to accept the appointment in our sole discretion if it is not satisfactory to us.
we may refuse to honor any transaction made by a Legal Representative or require satisfaction of certain conditions before honoring a transaction.
a Legal Representative will have access to the previous history and transaction details for the GIC, and you agree to this access being provided.
Disputes
If there is a dispute about any GIC or the ownership of a GIC
account, we may freeze the funds in any GIC until such time
as the dispute is resolved, apply to the court for directions
or pay the funds into court. In the event of any executions
of third party demands or claims against or disputes related
to a GIC, you will reimburse us any expenses we incur.
Information and Privacy Provisions
In the following information and privacy provisions,
references to “you” mean the individual client, and also
owners and representatives if you are a business client.
Collecting Information
We may collect financial and other information
about you, such as information (i) establishing your
existence or identity (name, address, phone number)
and background; (ii) related to transactions arising
from your relationship with and through us and other
financial institutions; (iii) provided on an application
for products and services; (iv) on the products and
services you use; and (v) about financial behaviour,
such as your payment history and credit worthiness.
We may collect this information during the course of our
relationship with you. We may obtain this information from
any source necessary for the provision of products and
services, including from (i) you; (ii) service arrangements
you make with or through us; (iii) credit reporting agencies;
(iv) other financial institutions; (v) registries; and (vi)
references provided to us. You acknowledge receipt of
notice that from time to time reports about you may
be obtained by us from credit reporting agencies.
Using Information
All information collected by and provided to us, including
information about you, may be used and disclosed for
the following purposes: (i) to verify your identity and
investigate your background; (ii) to open and operate an
account(s) and provide requested products and services;
(iii) to understand your financial situation; (iv) to determine
and make decisions about your eligibility, and that of your
affiliates if you are a business client, for products and
services we offer; (v) to help us better understand the
current and future needs of our clients; (vi) to communicate
to you any benefit, feature or other information about our
products and services; (vii) to help us better manage our
business and your relationship with us; (viii) to maintain
the accuracy and integrity of information held by a credit
reporting agency; and (ix) as required or permitted by law
For these purposes, we may share this information
with other persons, including (i) our employees, agents
and service providers, who are required to maintain the
confidentiality of this information; (ii) regulatory authorities;
(iii) other financial institutions; (iv) persons with whom
you have financial or other business dealings; and (v)
credit reporting agencies that may, in turn, share credit,
financial and other related information with others.
In the event information is used or shared outside of
Canada, the information will be subject to and may be
disclosed in accordance with the laws of the jurisdiction.
We may also use this information and share it with our
affiliates (i) to manage our risks and operations and
those of our affiliates; (ii) to comply with valid requests
for information about you from regulators, government
agencies, public bodies or other persons who have a
right to issue such requests; and (iii) to let our affiliates
know your choices under “Other Uses of Information”
below for the sole purpose of honouring your choices.
If we have your social insurance number, it may
be used for tax related purposes and shared with
the appropriate government and credit reporting
agencies for identification purposes.
Other Uses of Information
We may use and disclose this information as follows:
(i) to promote our products and services, and those of
third parties, which may be of interest to you; (ii) where
not prohibited by law, we may share this information with
our affiliates for the purpose of referring you or promoting
products and services which may be of interest to you; and
(iii) if you deal with our affiliates, where not prohibited by
law, we and our affiliates may consolidate the information
we have about you with the information any of our affiliates
have about you in order to manage our business and your
relationships with us and our affiliates. You acknowledge
that as a result of such sharing, we and our affiliates may
advise each other of any products or services provided. For
the purposes described in subsections (i) and (ii), we and
our affiliates may communicate with you through various
channels, including telephone, computer or mail, using the
contact information you have provided. You may choose
not to have this information shared or used for any of these
other uses by contacting us as set out below, and you will
not be refused credit or other services just for that reason.
Right to Access Information
You may obtain access to the personal information we
hold about you at any time, to the extent permitted by
law, review its content and accuracy, and have it amended
as appropriate; however, access may be restricted as
permitted or required by law. To request access to the
information, to ask questions about our privacy policies or
to request that the information not be used for any or all
of the purposes outlined in the Other Uses of Information
section above, you may do so by visiting your branch
or by calling 1-800 ROYAL® 1-1(1-800-769-2511).
Our Privacy Policies
You may obtain more information about our privacy
policies by asking for a copy of our Financial Fraud
Prevention and Privacy Protection brochure, by calling
us at the toll free number above or by visiting a
branch or our website at
rbc.com/privacy
(opens new
window)
.
Changing This Agreement
We may make changes to this Agreement at any time. If we
do, we will let you know before the changes take effect.
If You Move or Change Your Name
We depend on you to tell us immediately if
you change your address or name.
Governing Law
This Agreement is governed by the laws of the province
or territory where the GIC account is located.
Language I Langue (Quebec residents only
- Residents du Quebec seulement)
You acknowledge you have been offered the choice to enter into this Agreement in French or English. You have selected to enter into this Agreement in English, after being provided with the French version. Therefore, you agree that this Agreement and any document related to it, including notices,
will be in English only. Vous reconnaissez vous etre fait offrir le choix de conclure cette convention en français ou en anglais. Vous avez choisi de conclure cette convention en anglais, apres avoir reçu la version française. Par consequent, vous acceptez que cette convention et tous les documents qui s'y rattachent, y compris les avis, soient en anglais seulement.
Consent to Collection and
Use of Personal Information
You consent to the following collection and use of your personal information in connection with the transactions
contemplated in
this RBC International Student GIC Application Package and your relationship with Royal Bank of Canada.
In this “Consent to Collection and Use of Personal Information” document, references to “you” and “your” mean the
applicant who is
submitting an online application for the RBC International Student GIC Program. Reference to “we”, “us”, and “our”
mean Royal Bank of Canada.
Collecting Information
We may collect financial and other information about you, such as information: (i) establishing your existence or identity (name,
address, phone number) and background; (ii) related to transactions arising from your relationship with and through us and other
financial institutions; (iii) provided on an application for products and services; (iv) on the products and services you use; and
(v) about financial behaviour, such as your payment history and credit worthiness. We may collect this information during the
course of our relationship with you. We may obtain this information from any source necessary for the provision of products and
services, including from: (i) you; (ii) service arrangements you make with or through us; (iii) credit reporting agencies; (iv) other
financial institutions; (v) registries; and (vi) references provided to us. You acknowledge receipt of notice that from time to time
reports about you may be obtained by us from credit reporting agencies.
Parental consent. Where one or more account holders is younger than 14 (“minor”), you represent that you have parental authority or are the minor’s tutor (Quebec) or guardian, and you consent to the collection, use, and disclosure of the minor’s personal information as set out in this section.
Using Information
All information collected by and provided to us, including information about you, may be used and
disclosed for the following
purposes: (i) to verify your identity and investigate your background; (ii) to open and operate
account(s) and provide requested
products and services; (iii) to understand your financial situation; (iv) to determine and make
decisions about your eligibility for
products and services we offer; (v) to help us better understand the current and future needs of our
clients; (vi) to communicate
to you any benefit, feature or other information about our products and services; (vii) to help us
better manage our business and
your relationship with us; (viii) to maintain the accuracy and integrity of information held by a credit
reporting agency; and (ix) as
required or permitted by law.
For these purposes, we may share this information with other persons, including: (i) our employees, agents and service providers,
who are required to maintain the confidentiality of this information; (ii) regulatory authorities; (iii) other financial institutions;
(iv) persons with whom you have financial or other business dealings; and (v) credit reporting agencies, that may, in turn,
share credit, financial and other related information with others. Your personal information may be transmitted through, stored, or processed in countries or provinces other than your home jurisdiction, in which case the information is bound by the laws of those jurisdictions and may be disclosed in accordance with those laws. We will take measures to protect your personal information with appropriate contract clauses or other applicable safeguards.
We may also use this
information and share it with our affiliates: (i) to manage our risks and operations and those of our affiliates; (ii) to comply with
valid requests for information about you from regulators, government agencies, public bodies or other persons who have a
right to issue such requests; and (iii) to let our affiliates know your choices under “Other Uses of Information” below for the sole
purpose of honouring your choices. If we have your social insurance number, it may be used for tax-related purposes and shared
with the appropriate government and credit reporting agencies for identification purposes. We may also use automated processing to make decisions about you, including credit and loan adjudication, where applicable.
Other Uses of Information
We may use and disclose this information: (i) to promote our products and services, and those of third parties, which may be
of interest to you; (ii) where not prohibited by law, share this information with our affiliates for the purpose of referring you or
promoting products and services which may be of interest to you; and (iii) if you deal with our affiliates, where not prohibited
by law, we and our affiliates may consolidate the information we have about you with the information any of our affiliates have
about you in order to manage our business and your relationships with us and our affiliates. You acknowledge that as a result
of such sharing, we and our affiliates may advise each other of any products or services provided. For the purposes described
in subsections (i) and (ii), we and our affiliates may communicate with you through various channels, including telephone,
computer or mail, using the contact information you have provided. You may choose not to have this information shared or used
for any of these other uses by contacting us as set out below, and you will not be refused credit or other services just for that
reason.
Right to Access Information
You may obtain access to the personal information we hold about you at any time, to the extent permitted by law, review its content and accuracy, and have it amended as appropriate; however, access may be restricted as permitted or required by law. To request access to the information, to learn more about our use of automated processing, to ask questions about our privacy policies or to request that the information not be used for any or all of the purposes outlined in the Other Uses of Information section above, you may do so by visiting an RBC branch (find a branch at maps.rbcroyalbank.com) or by calling 1-800 ROYAL® 1-1(1-800-769-2511).
Our Privacy Notices
All collection, use and disclosure of your personal information will be in accordance with our Global Privacy Notice (available at Privacy and Security - RBC(opens new window)), which form part of these terms.
Please print/save this document should you wish to retain it for future reference.
Protecting your deposits
Canada Deposit Insurance Corporation (CDIC) is a federal Crown corporation that insures more than $1 trillion in deposits held
in member institutions. CDIC is fully funded by our members and coverage is free and automatic – you don’t have to sign up.
CDIC protects eligible deposits in Canadian and foreign currency for up to $100,000 (Canadian dollars) in each of CDIC's
insurance categories.
What's covered?
Deposits in Canadian or foreign currency
(including via payroll, Interac e-transfer, or cheque)
Guaranteed Investment Certificates (GICs)
Other term deposits
What's not covered?
Mutual funds
Stocks and bonds
Exchange Traded Funds (ETFs)
Cryptocurrencies
Example: Jane Doe has placed the following funds at a CDIC member institution.
Here’s what doesand does not qualify for CDIC coverage:
Jane’s GIC, savings and chequing accounts are in
$ 40,000in a GIC
her name only and all qualify for CDIC coverage
within the same coverage category (deposits held
in one name). As a result, total amounts in these
accounts are combined and are insured for up to a
total of $100,000 in the event of a member
institution’s failure.
$
$
25,000 in a savings account
25,000 in a chequing account
$ 130,000 in mutual funds
$220,000 = Total Portfolio
$ 90,000= Total Eligible Deposits
$ 90,000= Total Deposits Protected by CDIC
A word about financial service providers, products and deposit protection
CDIC deposit insurance may be available for eligible financial products offered by a CDIC member, another financial institution,
a broker, a third-party financial service provider (for example, a financial technology company), or other providers. To find out
if your deposits are protected by CDIC, speak to your financial service provider.
What happens if a CDIC member fails?
In the unlikely event of failure of a CDIC member institution, CDIC
provides access to insured funds (including interest) within days.
It’s automatic – we will contact you.
What you can do
Know what is covered and what is not
Keep your contact information up-to-date at your financial institution
Ask your broker or financial advisor about CDIC’s rules for deposits held in trust including keeping up-to-date beneficiary information
Want to know more?
Visit our website cdic.ca
Call us 1-800-461-2342
Follow us
This document contains general information and is not intended as legal or financial advice.
Whether you are coming to Canada to study, or are currently studying in Canada as an international student, the Canada Revenue Agency (CRA) has published Taxes for International students studying in Canada (opens new window) to help you determine if you are considered a resident of Canada for tax purposes.
The CRA states that you may be considered a resident of Canada for tax purposes if:
You have significant residential ties with Canada
AND
You are not considered a resident of your home country under the terms of a tax treaty between Canada and your country. (i.e., you are a resident of Canada, but not a deemed non-resident of Canada)
OR
You stay in Canada for 183 days or more in the year;
AND
You are not considered a resident of your home country under the terms of a tax treaty between Canada and your country. (i.e., you are a deemed resident of Canada)
Please note: The above information should not be considered tax or legal advice. Royal Bank of Canada makes no warranties, express or implied, as to the accuracy or completeness of the above information, and shall not be liable for any losses or damages arising from any errors or omissions in this information. If you’re unsure whether you are a resident of Canada for tax purposes, you should consult with your tax advisor, or directly with the CRA (opens new window).